Argan, Inc. (NYSE:AGX) Director W G. Champion Mitchell Sells 2,507 Shares

Argan, Inc. (NYSE:AGX) Director W G. Champion Mitchell sold 2,507 shares of the company’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $61.48, for a total value of $154,130.36. Following the sale, the director now owns 2,500 shares of the company’s stock, valued at $153,700. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Argan Price Performance

Shares of NYSE:AGX opened at $61.63 on Wednesday. The firm has a market capitalization of $815.98 million, a PE ratio of 25.79 and a beta of 0.49. The business has a 50-day moving average of $50.66 and a two-hundred day moving average of $47.37. Argan, Inc. has a 12 month low of $37.37 and a 12 month high of $62.69.

Argan (NYSE:AGX) last issued its earnings results on Thursday, April 11th. The construction company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.14. Argan had a return on equity of 11.37% and a net margin of 5.64%. The company had revenue of $164.55 million during the quarter, compared to the consensus estimate of $162.05 million. During the same quarter in the prior year, the business earned ($0.46) earnings per share. The company’s revenue was up 38.5% compared to the same quarter last year.

Argan Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 22nd will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Friday, April 19th. Argan’s payout ratio is 50.21%.

Analyst Ratings Changes

Several equities research analysts have commented on AGX shares. Lake Street Capital upped their price target on Argan from $61.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. StockNews.com upgraded Argan from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 15th.

Institutional Investors Weigh In On Argan

Several institutional investors and hedge funds have recently modified their holdings of AGX. SG Americas Securities LLC purchased a new stake in shares of Argan in the third quarter worth about $265,000. Pinnacle Associates Ltd. boosted its position in shares of Argan by 3.7% in the third quarter. Pinnacle Associates Ltd. now owns 21,712 shares of the construction company’s stock worth $988,000 after buying an additional 775 shares during the period. Azarias Capital Management L.P. boosted its position in shares of Argan by 37.6% in the third quarter. Azarias Capital Management L.P. now owns 173,143 shares of the construction company’s stock worth $7,881,000 after buying an additional 47,332 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Argan by 68.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,720 shares of the construction company’s stock worth $169,000 after buying an additional 1,511 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Argan by 9.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 395,664 shares of the construction company’s stock valued at $18,011,000 after purchasing an additional 32,958 shares during the last quarter. Hedge funds and other institutional investors own 79.43% of the company’s stock.

Argan Company Profile

Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, maintenance, project development, technical, and consulting services to the power generation market. The company operates through Power Industry Services, Industrial Fabrication and Field Services, and Telecommunications Infrastructure Services segments.